When changing from opaque to Translucent, I was expecting everything would stay the same until I change opacity or refraction. However, as shown in the video that was not the case. Is this the expected result?
On top of that, base color looks off when using the translucent shader. This is a comparison of what it’s like using translucent material vs opaque shader
There are different types of translucent shader, which support different parts of the pipeline. No transparent shader can fully support the entire rendering pipeline when using deferred rending. For this reason you should have different material IDs if not completely separate meshes for translucent objects, and minimize or eliminate their use whenever possible. The more fully featured translucent materials have significantly higher costs than ones which skip steps.
You can find out more about the limitations and options here: Lit Translucency | Unreal Engine Documentation